S&P (e-mini ) 1st June 09 recap

MAY high resistance disappeared and expectation of higher prices in June.

At this stage my short-term view is to push up into the Weekly highs

Friday 5-day high breakout should push up into Monday's highs

At this stage I'm not expecting any reversal patterns down from Monday's highs.


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S&P Weekly and 5-day pattern

Friday breakout along with the MAY high breakout and the Monthly timeframe close above the highs, should continue higher.

The Weekly highs are viewed as random resistance that could only last 1 day or a number of days this week, but with the MAY high break my view is for higher prices in June






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